For Sudan, when an exporter has concluded a commercial export contract with a Sudanese importer and the two parties do not know each other, the irrevocable and confirmed letter of credit is the most appropriate instrument to mitigate the risks.
The Sudanese importer will ask the Sudanese bank to issue a letter of credit for the benefit of the exporter who will have previously named the name of the notifying and confirming bank to be accepted by the exporter.
For Sudan, the exporter must choose a confirming bank that has in its network of correspondents the Sudanese bank that is proposed by the importer but also the one that has an acceptable credit rating so that there is no default of payment from the confirming bank.
A letter of credit issued in Sudan is usually confirmed by a very limited number of banks which are prepared to take the risks of Sudanese banks and make sure the beneficiary of the LC or exporter obtain his payment.
LIST OF SUDANESE BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS
Bank of Khartoum
Blue Nile Mashreq Bank
Omdurman National Bank
Tadamon Islamic Bank
National Bank of Sudan
Faisal Islamic Bank
Central Bank of Sudan
CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH SUDANESE BANKS
Banks which are confirm the letters of credit issued in Sudan by Sudanese banks are: (please contact us to obtain the list or to be listed as confirming bank).
SUDAN: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A SUDANESE BANK
Confirmation charges and fees for letters of credit issued through Sudanese banks can be obtained on demand by emailing: email@example.com.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE